Dover (NYSE:DOV) CEO Richard Tobin Sells 76,997 Shares of Stock

Dover Corporation (NYSE:DOV) CEO Richard Tobin sold 76,997 shares of the stock in a transaction on Thursday, February 19th. The shares were sold at an average price of $232.70, for a total value of $17,917,201.90. Following the transaction, the chief executive officer directly owned 217,979 shares of the company’s stock, valued at approximately $50,723,713.30. The trade was a 26.10% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Dover Stock Up 0.3%

DOV opened at $233.12 on Friday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.28 and a current ratio of 1.79. The company has a market capitalization of $31.44 billion, a PE ratio of 29.36, a P/E/G ratio of 1.78 and a beta of 1.29. The stock’s fifty day moving average is $209.02 and its 200-day moving average is $188.25. Dover Corporation has a one year low of $143.04 and a one year high of $237.54.

Dover (NYSE:DOV) last released its earnings results on Thursday, January 29th. The industrial products company reported $2.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.48 by $0.03. Dover had a return on equity of 17.87% and a net margin of 13.52%.The firm had revenue of $2.10 billion for the quarter, compared to analyst estimates of $2.09 billion. During the same period in the previous year, the company earned $2.20 earnings per share. Dover’s revenue was up 8.8% compared to the same quarter last year. On average, equities analysts predict that Dover Corporation will post 9.45 EPS for the current fiscal year.

Dover Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 13th. Investors of record on Friday, February 27th will be issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date is Friday, February 27th. Dover’s payout ratio is presently 26.20%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on DOV. Citigroup reaffirmed a “buy” rating on shares of Dover in a report on Monday, January 12th. Barclays set a $206.00 target price on Dover in a report on Monday, February 2nd. JPMorgan Chase & Co. upped their target price on Dover from $230.00 to $240.00 and gave the company an “overweight” rating in a report on Friday, January 30th. The Goldman Sachs Group reissued a “buy” rating and issued a $224.00 price target on shares of Dover in a research note on Saturday, January 31st. Finally, Robert W. Baird set a $255.00 price objective on Dover in a report on Friday, January 30th. Seven equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $224.00.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Meeder Asset Management Inc. boosted its position in Dover by 234.2% during the 4th quarter. Meeder Asset Management Inc. now owns 127 shares of the industrial products company’s stock worth $25,000 after acquiring an additional 89 shares during the period. Financial Life Planners purchased a new stake in shares of Dover in the third quarter worth approximately $25,000. Tompkins Financial Corp boosted its holdings in shares of Dover by 102.7% during the fourth quarter. Tompkins Financial Corp now owns 152 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 77 shares during the period. AdvisorShares Investments LLC purchased a new position in Dover during the second quarter valued at approximately $30,000. Finally, Vermillion & White Wealth Management Group LLC increased its stake in Dover by 122.4% in the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 169 shares of the industrial products company’s stock valued at $31,000 after buying an additional 93 shares during the period. 84.46% of the stock is owned by institutional investors and hedge funds.

About Dover

Dover Corporation is a diversified global manufacturer of industrial products, components and specialty systems that serve a wide range of commercial and industrial end markets. Headquartered in Downers Grove, Illinois, the company has built a portfolio of operating businesses that design, manufacture and distribute engineered equipment, aftermarket parts and related services for customers around the world.

Dover’s activities span several product and solution categories, including fluid-handling and pumping systems, material handling and processing equipment, refrigeration and foodservice technologies, product identification and printing systems, precision components and automation and sensing solutions.